Hero Motors shares make lackluster debut, list at 2% discount to IPO price
The initial public offering of Hero Motors received bids for 58.97 crore shares as against 8.86 crore shares on offer. The issue was subscribed 6.66 times.
SS Retail shares saw a significant rise of over 6% after their listing, trading at Rs 677 despite the IPO price being Rs 424 per share. The company listed above market expectations with a 50.73% premium on the BSE and a 47.17% premium on the NSE. This impressive performance exceeded the unlisted market's expectations of a 35% gain.
Analysts noted the strong revenue growth and profitability of the company, with total income increasing by 47% and profit after tax rising by 49% from FY25 to FY26. However, some experts caution that the current valuation appears demanding, with a price-to-earnings (P/E) ratio of 46.5x. Given the strong debut and limited safety margin, some investors may want to wait for consolidation and consider holding their positions with a stop-loss.
Written by urgent.news from The Economic Times - Top News's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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